Hi
Sorry if something similar has allready been posted before just wanted some advice.
My husband is leaving me and I cant afford the Mortgage on my own, we are in arrears with the Mortgage allready.
He is going to move out and live with a friend until he gets himself sorted and has left everything for me to sort (just like him)
the Mortgage is in both our names but he has been the one paying it while i paid for other bills, due to him loosing his job we fell behind with the payments and now he is leaving we will never get back on top of it all as I only work part time as we have a 18 month old son.
what i want to know is do i see if the bank will have the house back or do i wait for it to be repossessed ??, I dont have the option of keeping the house on myself as its a shared ownership one and the rent is nearly £300 a month and the mortgage is £400 - i have asked if they could do an interest only mortgage for a few months in the past so we could get back on our feet but the bank say they dont do an interest only one.
Due to bailing him out 24/7 as he has lost his job 3 times within the past year and a half i am in debt quite badly so although i far from think declaring myself bankrupt is the best option it is something i am considering.???
Just would like some advice on what is the best thing to do allround
Thanks in advance.
Sorry if something similar has allready been posted before just wanted some advice.
My husband is leaving me and I cant afford the Mortgage on my own, we are in arrears with the Mortgage allready.
He is going to move out and live with a friend until he gets himself sorted and has left everything for me to sort (just like him)
the Mortgage is in both our names but he has been the one paying it while i paid for other bills, due to him loosing his job we fell behind with the payments and now he is leaving we will never get back on top of it all as I only work part time as we have a 18 month old son.
what i want to know is do i see if the bank will have the house back or do i wait for it to be repossessed ??, I dont have the option of keeping the house on myself as its a shared ownership one and the rent is nearly £300 a month and the mortgage is £400 - i have asked if they could do an interest only mortgage for a few months in the past so we could get back on our feet but the bank say they dont do an interest only one.
Due to bailing him out 24/7 as he has lost his job 3 times within the past year and a half i am in debt quite badly so although i far from think declaring myself bankrupt is the best option it is something i am considering.???
Just would like some advice on what is the best thing to do allround
Thanks in advance.